The New Interventionist Economics
Posted: 14 Nov 2009
Date Written: November 12, 2009
The Great Recession seems to be creating a New Interventionist Economics characterized by bubbles, radical uncertainty, animal spirits, complexity dynamics, and extra-market control. When placed in that order, these characteristic create the acronym BRACE. I review some evidence and literature pointing to BRACE economics and briefly suggest some avenues to challenge the new interventionists.
Keywords: animal spirits, Great Recession, interventionism, complexity
JEL Classification: E32, G12, E5, E6
Suggested Citation: Suggested Citation